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Schach [20]
3 years ago
6

Volga Co. included a foreign subsidiary in its Year 6 consolidated financial statements. The subsidiary was acquired in Year 4 a

nd was excluded from previous consolidations. The change was caused by the elimination of foreign currency controls. Including the subsidiary in the Year 6 consolidated financial statements results in an accounting change that should be reported:________.
Business
1 answer:
Katen [24]3 years ago
3 0

Answer:

By retrospective application to the financial statements of all prior periods presented.

Explanation:

From the question we are informed about Volga Co. who included a foreign subsidiary in its Year 6 consolidated financial statements. The subsidiary was acquired in Year 4 and was excluded from previous consolidations. The change was caused by the elimination of foreign currency controls. Including the subsidiary in the Year 6 consolidated financial statements results in an accounting change that should be reported By retrospective application to the financial statements of all prior periods presented.

Consolidated financial statements can be regarded as financial statements of a particular group whereby equity, assets as well as liabilities and cash flows and expenses of the parent company as well as its subsidiaries are been presented in a way of single economic entity. In others words Consolidated financial statements can as well be regarded as financial statements of an organization having multiple divisions or multiple subsidiaries. Some firms often use the consolidated as regards financial statement reporting to describe aggregated reporting of business collectively.

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Answer:

Future value is approximately $3,183,600 which is equal to $3,184,000.

Explanation:

Please see attachment

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6 0
4 years ago
Which of the following is not a cost created by high​ inflation? A. Inflationary impacts are not distributed evenly across the​
dybincka [34]

Answer:

The correct answer is the option A: inflationary impacts are not distributed evenly across the population, therefore, inflation causes the economy to redistribute income across households.

Explanation:

To begin with, <em>inflation</em> is the name that receives, in an economic field, the term that refers to the situation where the economy of a country <em>decreases its purchasing power per unit of money</em> causing a<em> loss of real value in the unit of exchange</em>. Moreover,<em> it affects the economy in many negative ways</em>, such as the reductions of the real value of the wages, causing a more difficult situation for the people to buy the primary groceries. Furthemore, it also increases the opportunity cost of holding money, causing to discourage investment and savings.

Therefore, that it is understandable that the correct answer is the option A, due to the fact that <u><em>a high inflation do not cause a redistribution in the income of the economy to the households, actually it causes the whole oppositve impact. </em></u>

7 0
3 years ago
An RBS Risk Impact Assessment benefits from information gathered from: I. Onsite examination II. Offsite examination III. News r
Ivan

not being rude but how many question do you have  how do you do that

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4 0
2 years ago
The geometric average return answers the question What was your return in an average year over a particular period?
Andreyy89

Answer: A. What was your average compounded return per year over a particular period?

Explanation:

Geometric return is calculated by the formula;

= [(1 + r1) * (1 + r2) * (1 + r3) *.... (1 + rn)] ^1/n

This allows for one to calculate the compounding effect over a period of time by showing the compounded annual growth rate which means that it tells what the average compounded return was per year in a particular period.

6 0
3 years ago
AllSpice Incorporated plans to do business with a company located in the Leone Republic, a common law country. The companies hav
zheka24 [161]

The contract must be very detailed and should include all the contingencies spelled out in it.

<u>Explanation:</u>

Contract is a document that is made between two or more than two parties who have come in to an agreement with each other over a particular thing. The contract might be a business contract that the parties make which should have the proportion of profit and liabilities of the business that is to be shared among the partners.

Since the profit and losses are to be shared between the business partners on the basis of this contract, the contract should have very detailed information in it and all the contingencies should be spelled out in it.

8 0
3 years ago
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